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Judge Posner Takes a Critical Look at Coupon Settlements in Redman v. RadioShack
By ABA Litigation, November 25, 2014
This post has been viewed 2,904 times.
This post has been viewed 2,904 times.
In a September 19, 2014, opinion issued in Redman v. RadioShack Corporation, Nos. 14-1470, -1471, -1658 (7th Cir.), released just 11 days after oral argument, Judge Richard Posner performed an in-depth analysis of an approved coupon settlement before rejecting it. Sued for a willful violation of the Fair and Accurate Credit Transactions Act (FACTA), RadioShack agreed to a settlement, the critical terms of which allowed each class member who responded positively to the notice of proposed settlement to receive a $10 coupon redeemable at any RadioShack store and paid class counsel a $1 million fee. Only 83,000 potential class members, from a class assumed to contain 16 million members, submitted claims for coupons.
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